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These functions are of the bottom line of a cash flow where you want to deal with cash balances and surpluses. Interest is accrued on a daily basis using an AER (Annual Equivalent Rate) interest rate. Because these functions use a preceding balance you may not get exactly the same result with a quarterly or yearly cash flow (time discretisation error), but we've done everything possible within the arithmetical framework to make the results similar. Because these functions, although tremendously useful, deal in an area where accuracy is necessarily compromised, we don't use DayCount/Periods options because it's not justified, and instead use the more approximate, theoretically based, PmtsPerYear mechanism.
| Component | What the name means |
| Overdraft | Calculates the interest, principal etc for an overdraft
| | CashAcct | Calculates the interest, principal etc for a cash surplus
| | FlexAcct | Calculates the interest, principal etc for both an overdraft and a cash surplus, where the interest on cash is the same as the interest in debt
| | CurrentAcct | Calculates the interest, principal etc for both an overdraft and a cash surplus, where there are different interest rates for debt and cash surplus
| | STDAcct array function | Short Term Debt Account
| | LoanAcct array function | Given a set of cashflows, inserts long term Loans and calculates interest and balance on short term cash and debt (overdraft)
| | LoanAcctEM array function | Given a set of cashflows, inserts long term Loans and calculates interest and balance on short term cash and debt (overdraft)
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Loan Sign Convention
| +ve | -ve
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| Loan Balances: | You Owe | You are Owed
| | Cash Balances: | NA | You have Cash
| | Interest | You Receive | You Pay
| | Principal | You Draw | You Repay
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